Money market fund assets dropped by $2.18 billion in the week ended Jan. 12, the Investment Company Institute said Thursday.

Among retail funds, assets decreased by $6.58 billion to $940.65 billion, with taxable government money market fund assets in the category dropping by $1 billion to $165.84 billion, non-government money market fund assets falling by $4.24 billion to $567.55 billion and tax-exempt fund assetes decreasing by $1.34 billion to $207.27 billion.

Institutional money fund assets, on the other hand, increased by $4.39 billion to $1.856 trillion. In this category, taxable government money fund assets decreased by $6.62 billion to $650.97 billion, taxable non-government money fund assets rose by $13.49 billion to $1.081 trillion, and tax-exempt fund assets decreased by $2.47 billion to $123.91 billion.

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